You read it right. The Jeff Bezos-owned Washington Post just ran quite the headline, proclaiming, ‘Democrats’ $80 billion wager: A bigger IRS will be a better IRS’
As just about everyone is already aware of, Sens. Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ) are now onboard with the Democrat $700 billion “Inflation Reduction Act”.
Just pay no attention that this particular act has absolutely nothing to do with reducing inflation. If anything, this will just make things worse. After all, printing $700 billion worth of Monopoly money backed-up by foreign nations is never a good thing.
In a 17-paragraph drooling puff-piece done by CBS News, the other side of the story was saved for two-sentences at the end of the article giving the GOP perspective.
Nonetheless, here’s just a bit of what CBS cited (emphasis mine);
Still, Democrats praise the plan as their answer to addressing rising consumer prices and for its nearly $400 billion investment in fighting climate change, the largest ever.
It also extends enhanced health insurance subsidies that were set to expire at the end of the year, and imposes a 15% minimum tax on most corporations that make more than $1 billion each year.
Actually, it’s not $400 billion going towards “Green Energy.” The Senate Dems have narrowed it down to $369 billion… but what’s a few billion amongst friends?
As reporter Monica Showalter of the American Thinker so eruditely noted of the billions being thrown at “Green Energy”;
Half the nightmare bill, some $369 billion, will be dedicated to green new deal boondoggles, subsidies for the rich, and crony shovel-outs of the kind that brought us Solyndra.
As Showalter cites in the tweet below, as one of the Biden diversity hires touts glorified golf carts, it’s the taxpayers who are going to be paying quite a bit of the cost of each purchase.
Concerned that EVs are too expensive? The Inflation Reduction Act would lower their cost, so that more Americans can choose to go electric and save money on maintenance and fuel. pic.twitter.com/WS0HPVN0uY
— Secretary Pete Buttigieg (@SecretaryPete) August 6, 2022
Besides… how in the world are you going to charge your EV if the local power grid has rolling black-outs?
As far as the “15% tax increase” on corporations goes, did you notice that it just so happens to be a “minimum” of 15 percent?
Other than the Jackass Party now having the greenlight for taxing anything and everything way over the 15 percentile, I want to know where the rest of that “Inflation Reduction Act” money is going to.
The other half, some $300 billion, will be dedicated to IRS enforcement, surveillance upgrades, and audits against small businesses, who have now been re-labeled “the rich.”
But wait for it. This bill will enable the IRS to hire 87,000 new agents.
Never mind that whenever corporations get taxed, they just pass the added cost on to the customers.
The only people the “Inflation Reduction Act” is going to hurt are the working poor and small business owners.